Eyetech Receives $54.2 Million

Updated Aug. 8, 2002 1:23 p.m. ET

Eyetech Pharmaceuticals Inc., New York, said it received $54.2 million in funding to complete its $108.5 million Series C round. JP Morgan Partners LLC led the round. Other investors included BB Biotech, MPM Capital, Alta Partners, Schroder Ventures, and Merrill Lynch. Eyetech will use the funds for clinical product trials of its age-related macular degeneration treatment. Eyetech (www.eyetechpharmaceuticals.com) discovers, and develops drugs to reduce and prevent vision loss caused by eye...